I may have found the best way to borrow money! Whether its to pay off bills or to start a business there are people out there bidding on your loan to gain an investment. The site is called Prosper the concept is awesome they allow you to do the following:
- Borrow up to $25,000 at competitive rates
- Thousands of lenders compete to lower your rate
- Pay off credit cards or finance a business
And on top of that if you wanted to invest a little bit of cash you could lend people money and gain a higher rate of interest off of your money… I’ve seen rates as high as 26% and I don’t know about you but a 26% ROI is a pretty good investment. Here is some of the stuff they allow:
- Set your own rate and get a great return!
- Lend as little as $50 to help a borrower
- $25 sign-up bonus!
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Sounds to good to be true – at least for a Norwegian:-)
Btw: Thanks for the add at BlogCatalog – you really have a great and informative blog!
Yeah, Prosper is a great site!
thanks for the link! this is a great post
Prosper is great but you won’t get a 29% ROI. With careful investing it’s much more likely that you will get between 10-15% in my opinion. Which is still very good. Learn from those out there that have already made mistakes.
prosper rocks!